2018/19 U.S. Wheat Planted Area Expected to Increase Despite Dry Conditions
By Stephanie Bryant-Erdmann, USW Market Analyst Total U.S. planted wheat area will rise 500,000 acres (202,000 hectares) in 2018/19 due to an expected increase in spring wheat area (including durum) according to Joanna Hitchner of the USDA World Agricultural Outlook Board. The USDA held its annual Agricultural Outlook Forum on Feb. 22 to 23, where […]
Global Supplies of High Protein Wheat Keep Tightening
By Stephanie Bryant-Erdmann, USW Market Analyst In the Nov. 2, 2017, issue of “Wheat Letter,” we analyzed the tight supply of high protein U.S. wheat (minimum of 13.0 percent protein at 12 percent moisture basis (mb)) and its effects on pricing. The latest production and quality analysis suggests that global high protein wheat production in […]
Sustained Demand for U.S. Wheat in a New Price Environment
By Stephanie Bryant-Erdmann, USW Market Analyst Six months into marketing year 2017/18 (June to May), total U.S. export sales of 19.5 million metric tons (MMT) are 8 percent behind last year’s pace according to USDA Export Sales data through Jan. 4. However, the estimated total value of U.S. wheat export sales is 4 percent greater […]
Wheat Futures Tumble, While Protein Premiums Soar
By Stephanie Bryant-Erdmann, USW Market Analyst As the Dec. 12 World Agricultural Supply and Demand Estimate (WASDE) confirms, global wheat supplies are at a record high this year. USDA increased its estimate for 2017/18 global wheat production to 755 million metric tons (MMT), up slightly from 2016/17 and a new record high. If realized, it […]
U.S. High-Protein Wheat Supplies Tightening
By Stephanie Bryant-Erdmann, USW Market Analyst The common refrain right now is “the world is awash with wheat.” While that is true in the aggregate, in terms of milling wheat and, more specifically, high-protein milling wheat, supply is very tight. The impact of the small supply of high-protein milling wheat can be seen in the […]
USW Reviews Crop Quality for the 2017/18 Hard Red Spring, Soft White and Durum Crops
USW and its partner organizations have completed the crop quality analysis of the 2017/18 U.S. hard red spring (HRS), soft white (SW) and durum crops. The final data is summarized below. The complete analyses will appear in class-specific reports and USW’s 2017 Crop Quality Booklet, and shared with hundreds of customers around the world as […]
USDA Reports Smallest U.S. Harvested Area in 127 Years
By Stephanie Bryant-Erdmann, USW Market Analyst USDA’s Sept. 30 Small Grains Summary reported that U.S. farmers harvested 37.6 million acres (15.2 million hectares) of wheat for the 2017/18 crop, a 14 percent reduction from 2016/17 and the smallest harvested area since 1890. USDA estimated U.S. 2017/18 wheat production at 47.4 million metric tons (MMT) (1.74 […]
U.S. Wheat Sales on Pace to Match 5-Year Average
By Stephanie Bryant-Erdmann, USW Market Analyst Three months into the 2017/18 marketing year (June to May), total U.S. export sales-to-date of 12.1 million metric tons (MMT) are 2 percent ahead of last year’s pace and in line with the 5-year average pace. Though hard red winter (HRW) and hard red spring (HRS) sales are currently […]
Opportunities Abound for Customers to Lock-in Competitive Prices
By Stephanie Bryant-Erdmann, USW Market Analyst Sharply lower U.S. wheat production pushed futures prices to 2-and 3-year highs earlier this summer. However, bearish factors have recently pushed prices down. And when wheat futures are under pressure, wheat importers have the opportunity to lock in competitive prices and maybe even find some bargains. Chicago Board of […]
Assessing the Wheat Quality Council Tour 2017 Yield Estimate
Reprinted with Permission from “Agweek,” August 2, 2017 [Editor’s Note: The original source for this article is the North Dakota Wheat Commission.] The annual Wheat Quality Council (WQC) tour of the spring and durum wheat region took place the week of July 24, with the final yield result sparking questions and sharp criticism, especially in […]